News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

NOCHE

Wayside Furniture

Akron General


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Government and Politics


New bill targets banks that are 'too big to fail'
Sen. Sherrod Brown wants megabanks to keep a 15 percent safety net, instead of relying on taxpayer bailouts
by WKSU's MARK URYCKI


Senior Reporter
Mark Urycki
 
Sen. Sherrod Brown and Louisiana Republican David Vitter wants large and medium-sized banks to maintain capital so they can bail themselves out. Small banks would not be restricted, and would even have some regulations eliminated
Courtesy of Mark Urycki
Download (WKSU Only)
In The Region:
Ohio's U.S. Sen. Sherrod Brown is sponsoring a bill that target banks considered “too big to fail.” The Ohio Democrat joined with Louisiana Republican David Vitter to introduce a requirement that the largest banks maintain a capital worth of 15 percent of its assets as a backstop, rather than rely on a taxpayer bailout.

Brown says the implicit support by taxpayers gives the mega-banks an unfair advantage and they are even larger now than in 2008.
“By 2009, despite the recession, the top six banks had grown from fewer than 20 percent of U.S. GDP to more than 60 percent," he said. "This growth was built on the perception that these banks aren't just backed by their investors. They're also backed by American taxpayers.

"The market knows that the government won't allow these big banks to fail, ... (so) they can make riskier investments and lend money at a lower rate than regional banks and credit unions.”

Smaller, regional banks, like Key Bank and Huntington, would have to keep 8 percent of their assets.The smallest l banks would not be restricted, and in fact would have some current regulations eliminated. 


Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

The Black Keys guitar tech's moment in the spotlight
Nice job, Vivian. It's always nice to hear about the unsung heroes getting their due! Thank you, Chuck Johnston (Full disclosure - I'm a friend of the Carney fa...

Akron's Tuba Christmas: A resounding blast of holiday spirit
Nice piece, Vivian! Looking forward to hearing you move from flute to tuba on Saturday. Love hearing your interviews and this seemed extra special since I kno...

Cleveland Hugo Boss workers are fighting for their jobs again
Bro. Ginard; I support your effert to keep your jobs, I understand all about concesions, I was a Union offical from 1965 until 1991 and the company th...

Asian Carp control could benefit from bill passed by House, heading to the Senate
help me fight the battle against invasive carp by method of harvest

Ohio's Portman supports lifting limits on party political money
If Portman was legitimately concerned about outside groups influence on elections he would have supported the DISCLOSE act. Instead he helped block it being bro...

Study shows trade with China has cost more than 3 million U.S. jobs
I disagree with James Dorn! If we don't change the playing field and make it a fair competition the whole US industry will be weaker and weaker. Eventually all ...

Video of Cleveland police shooting a 12-year-old is critical to the investigation
While I think this is a very unfortunate, the fact is that police are trained to aim for the large mass of a human to stop them. If they aimed for the leg it w...

Wayne County teacher says he was fired for criticizing dairy
This is bull crap Smithville Schools have changed ever since the new school I'm so ashamed at the district I wish I could pick my house up and move it to anothe...

White Castle is closing its five Northeast Ohio restaurants
you should open a white castle in logan ohio.i'm pretty sure you disappointed,thank you...

Copyright © 2014 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University